Daiwa Securities Group Inc. Boosts Stake in Axalta Coating Systems Ltd. (AXTA)
Daiwa Securities Group Inc. raised its stake in Axalta Coating Systems Ltd. (NYSE:AXTA) by 29.0% during the second quarter, Holdings Channel reports. The institutional investor owned 4,000 shares of the company’s stock after buying an additional 900 shares during the period. Daiwa Securities Group Inc.’s holdings in Axalta Coating Systems were worth $106,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in AXTA. Royal Bank of Canada boosted its position in Axalta Coating Systems by 3.5% in the first quarter. Royal Bank of Canada now owns 7,050 shares of the company’s stock worth $207,000 after buying an additional 236 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in Axalta Coating Systems during the first quarter worth $219,000. Aperio Group LLC purchased a new position in Axalta Coating Systems during the first quarter worth $256,000. Nisa Investment Advisors L.L.C. purchased a new position in Axalta Coating Systems during the first quarter worth $429,000. Finally, IBM Retirement Fund boosted its position in Axalta Coating Systems by 62.7% in the second quarter. IBM Retirement Fund now owns 16,633 shares of the company’s stock worth $441,000 after buying an additional 6,411 shares during the period. Institutional investors own 99.27% of the company’s stock.
Shares of Axalta Coating Systems Ltd. (NYSE:AXTA) traded down 0.49% during mid-day trading on Monday, hitting $26.63. 2,172,171 shares of the stock were exchanged. The company has a 50-day moving average price of $28.08 and a 200-day moving average price of $28.18. Axalta Coating Systems Ltd. has a 12 month low of $20.67 and a 12 month high of $30.45. The stock has a market cap of $6.37 billion, a price-to-earnings ratio of 42.40 and a beta of 1.62.
Axalta Coating Systems (NYSE:AXTA) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by $0.01. The firm earned $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Axalta Coating Systems had a net margin of 3.76% and a return on equity of 20.89%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.35 EPS. Equities analysts expect that Axalta Coating Systems Ltd. will post $1.16 earnings per share for the current year.
AXTA has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Axalta Coating Systems from a “sell” rating to a “hold” rating in a research report on Thursday, July 28th. JPMorgan Chase & Co. set a $30.00 price objective on shares of Axalta Coating Systems and gave the company a “hold” rating in a research report on Wednesday, August 3rd. Robert W. Baird reiterated an “outperform” rating and set a $35.00 price objective (up previously from $32.00) on shares of Axalta Coating Systems in a research report on Monday, June 27th. Gabelli initiated coverage on shares of Axalta Coating Systems in a research report on Thursday, September 1st. They set a “buy” rating and a $37.00 price objective on the stock. Finally, Barclays PLC reiterated a “hold” rating on shares of Axalta Coating Systems in a research report on Thursday, July 28th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Axalta Coating Systems presently has an average rating of “Buy” and a consensus target price of $32.92.
In other Axalta Coating Systems news, CEO Charles W. Shaver sold 200,000 shares of the firm’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $28.21, for a total value of $5,642,000.00. Following the transaction, the chief executive officer now owns 762,110 shares in the company, valued at approximately $21,499,123.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sean M. Lannon sold 17,000 shares of the firm’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $28.01, for a total value of $476,170.00. Following the completion of the transaction, the vice president now owns 5,842 shares in the company, valued at approximately $163,634.42. The disclosure for this sale can be found here. 2.79% of the stock is owned by company insiders.
About Axalta Coating Systems
Axalta Coating Systems Ltd. is a holding company. The Company is a manufacturer, marketer and distributor of coatings systems primarily serving the transportation industry. Its segments include Performance Coatings and Transportation Coatings. The Company, through its Performance Coatings segment, provides liquid and powder coatings solutions to a fragmented and local customer base.
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